Newmarket Gold Inc.

TSX VENTURE : NGN


Newmarket Gold Inc.

May 08, 2014 09:00 ET

Newmarket Completes Diamond Drillling Program at the Point Leamington Gold-Rich Massive Sulphide Deposit, Newfoundland

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 8, 2014) - Newmarket Gold Inc. (the "Company" or "Newmarket") (TSX VENTURE:NGN) announces that it has completed drilling, sampling and assaying of diamond drill core samples from its 100% owned Point Leamington gold-zinc-silver-copper-lead massive sulphide deposit located in north-central Newfoundland, Canada (the "Project"). The drill samples will be used to create a composite for metallurgical testing.

Highlights

  • Drilling intersected up to 40 metres of massive sulphide mineralization and returned a number of intercepts including 13.38 metres grading 2.5 g/t Au, 2.44% Zn and 0.90% Cu (PL14-079) and 10.57 metres grading 1.0 g/t Au, 4.60% Zn and 0.39% Cu (PL14-078)

A total of 259 metres in two diamond drill holes (PL14-078 - 116 metres and PL14-079 - 143 metres) were completed. Each drill hole intersected an average of approximately 40 metres of massive sulphides.

Results for massive sulphide intervals from the 2014 Point Leamington drill program include;

DDH from to m Au g/t Ag g/t Cu % Pb % Zn %
PL14-078 45.97 48.21 2.24 0.386 19.8 0.36 0.04 3.00
PL14-078 50.71 67.30 16.59 0.601 19.0 0.36 0.11 2.56
PL14-078 76.04 86.61 10.57 1.023 26.5 0.39 0.10 4.60
PL14-078 95.00 105.37 10.37 0.374 7.4 1.89 0.01 0.19
PL14-078 112.00 116.00 4.00 0.499 15.0 1.69 0.01 0.73
PL14-079 49.90 59.23 9.33 0.479 20.7 0.32 0.19 3.23
PL14-079 67.16 76.67 9.51 0.357 15.0 0.73 0.01 2.32
PL14-079 80.80 87.11 6.31 0.998 9.4 0.35 0.01 0.74
PL14-079 92.58 102.00 9.42 1.025 16.0 1.41 0.07 1.25
PL14-079 107.96 121.34 13.38 2.519 16.2 0.90 0.07 2.44
PL14-079 125.00 132.00 7.00 0.634 10.4 0.01 0.07 0.13
  1. Length weighted averages of uncut assays and analyses.
  2. Analyses completed at ACME Analytical, Vancouver, B.C.
  3. Results passed QA/QC including the insertion of blanks and standards and sample duplicates.

A total of 154 samples (excluding QA/QC samples) were collected and shipped to ACME Labs (A Bureau Veritas Group Company) of Vancouver, B.C., an ISO Certified Facility, for analyses. Samples were analyzed for gold by fire assay and a further 24 elements including copper, lead, silver and zinc by aqua regia digestion and ICP-ES analysis.

A composite sample is being prepared which approximates the average grade of the existing resource. Metallurgical testwork will be completed by the Metallurgical Division of Inspectorate Exploration and Mining Services of Richmond, British Columbia.

The metallurgical testwork will consist of a series of metallurgical scoping tests designed to study the potential for copper, zinc and precious metal recovery by flotation. Previous work since 1972 had focused on recovering only one product at a time, depending on the samples tested. The current work will study the recovery of all potentially economic minerals using a sequential flotation circuit in which a series of concentrates are recovered in sequential stages. An alternative bulk flotation method will also be tested.

The technical content in this news release was reviewed and approved by Gregory Smith, P.Geo, a technical consultant for the Company who is the Qualified Person as defined by NI 43-101.

About Newmarket Gold Inc.

Newmarket Gold Inc. is a Canadian gold company focused on creating shareholder value through the acquisition of quality gold production opportunities and outstanding development stage assets in mining friendly, politically stable jurisdictions world-wide. The Company was founded by an experienced group of dealmakers, mine developers, financiers and capital markets professionals and is focused on a disciplined approach to asset acquisition and growth.

ON BEHALF OF THE BOARD

Douglas Forster, M.Sc., P.Geo., President and CEO

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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